Gold price hinges on exchange rate
Gold was surprisingly resilient on the Friday (Jan. 30) before pressday, with good support holding below US$400 per oz. and closing on its high at US$402.20.However, we expect heightened volatility to…
News
Amador drills Cedar Island
A 10,000-metre drill program is under way at the KPM property, 60 km west of Kenora, Ont. Amador Gold (AGX-V) is drilling the past-producing property in order to expand a known gold resource and test …
People (February 09, 2004)
Alcoa — Tomas Sigurdsson appointed managing director of Fjardaal plant in Iceland.Argosy Minerals — Peter Lloyd appointed chairman.Banro Corp. — John Clarke appointed director.
Phelps Dodge to boost production
Improved prices and strong demand for copper have prompted Phelps Dodge (PD-N) to increase production from operations that were either suspended or curtailed during the industry downturn of the late 1…
Spot Prices Tuesday, Feb. 3, 2004 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$401.75-2.25Silver$6.18 -0.06Platinum$824.00-30.00…
African rains dampen Iamgold’s output
All in all, 2003 was a productive year for Iamgold (IMG-T), which cranked out 421,000 attributable ounces at a weighted cash cost of US$225 per oz.Still, output was 2% lower and cash costs 5% higher t…
Copper Ridge funds work at Quitovac
Vancouver — Copper Ridge Explorations (KRX-V) has closed a $1.9-million short-form offering, with most of the proceeds earmarked for initial exploration of the Quitovac gold property in Mexico’s Sono…
Time to improve permitting
We begin the new year in anticipation of positive things for mining in Nevada. It appears metal prices are recovering from their years-long slump and that the overall economy of the state, despite cha…
Daily Metal Prices (February 09, 2004)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateFeb. 3Feb. 2Jan. 30Jan. 29Jan. 28Al Alloy1505/1535…
Broad market recovers on buying spurt
Buyers outpaced sellers over the Jan. 28-Feb. 3 report period to push the S&P-TSX composite index up 72.55 points. The benchmark finished the week at 8,660.70.Gold had a rather bi-polar week, soaring …
Ok Tedi suffers production snag
Inmet Mining’s (IMN-T) 18%-owned Ok Tedi copper mine in Papua New Guinea will operate at a minimum of half-capacity for at least the next two months, following the failure of one of two semi-autogenou…
Producer and Dealer Prices (February 09, 2004)
Antimony: Mid-mkt US$2,600/t.Bismuth: Mid-mkt US$2.95/lb.Cadmium: Mid-mkt US$0.55/lb.Cobalt: Recent trades US$27-29/lb.Copper: Comex Mar. US$1.1685/lb.Indium: Indium Corp., ingot, US$375/kg.Iridium: M…